https://www.taxtmi.com/caselaws?id=430030 A petition withdrawn pursuant to settlement cannot be restored unless the withdrawal order expressly reserves liberty to revive it before the same forum. An order granting leave only to pursue appropriate proceedings before the competent authority does not amount to permission to restore the withdrawn insolvency petition, and a relief not expressly granted is treated as refused. The insolvency framework and tribunal rules do not provide for restoration of a petition finally disposed of as withdrawn; restoration provisions apply to dismissal for default or ex parte disposal. Breach of settlement may create a fresh cause of action, but it does not revive the terminated proceeding. en-us Wed, 02 Nov 2022 00:00:00 +0530 Thu, 10 Nov 2022 09:05:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430030 A petition withdrawn pursuant to settlement cannot be restored unless the withdrawal order expressly reserves liberty to revive it before the same forum. An order granting leave only to pursue appropriate proceedings before the competent authority does not amount to permission to restore the withdrawn insolvency petition, and a relief not expressly granted is treated as refused. The insolvency framework and tribunal rules do not provide for restoration of a petition finally disposed of as withdrawn; restoration provisions apply to dismissal for default or ex parte disposal. Breach of settlement may create a fresh cause of action, but it does not revive the terminated proceeding. Case-Laws Insolvency and Bankruptcy Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430030